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Compared to the previous month of January, the price level is expected to increase by 0.7 percent. “Food prices in particular are currently driving inflation far less than a year ago,” says Statistics Austria General Director Tobias Thomas.
“Prices for household energy are now also having a dampening effect on inflation, after rising sharply in February of the previous year,” said Thomas. “Fuel prices, however, remained at the same level as last year.”
- Also read: Unemployment in February: 402,297 without a job
According to a preliminary flash estimate, the Harmonized Inflation Rate (HICP) for Austria, which was determined for eurozone comparisons, was 4.2 percent in February. Even according to this calculation, the price level rose by 0.7 percent compared to January.
- Also listen to the “Money & Life” podcast: Is it possible to outsmart inflation, Mr. Cocca?
Teodoro Cocca
Professor of Asset Management
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